Audit and risk management product maker ACL has signed a definitive agreement to purchase The Prodigy Group, a Singapore-based software reseller and consulting services provider focused on audit, compliance and risk management products.
Prodigy has worked with ACL since 2001 as and has served the South East Asia market for more than a decade. Terms of the private transaction were not disclosed.
Through the acquisition, ACL gains direct access to current and new customers in South East Asia, and enhances its presence for global customers operating in the region, as well as adjacent markets including China, South Korea and Taiwan.
Founded and led by Fransiskus Oey, Prodigy serves more than 1,000 customers with operations in the region, including Asian Development Bank, HSBC, Manulife Financial Asia, Sime Darby Group, and many government and state-owned organizations.
Prodigy will continue to be operated by the current management team and Oey will join ACL’s executive team as managing director of ACL Asia.
“Bringing The Prodigy Group into the ACL family is an important step in our continued growth and global expansion,” said ACL president Laurie Schultz. “We will continue to pursue an aggressive plan to build our business in strategic markets, especially those that are at the forefront of new technology adoption and that value an integrated, data-driven GRC solution.”